Social Networking - Wednesday, May 31, 2006
China's eHarmony Raises $9M to Target Nascent China Online Dating Market
Baihe.com has raised $9M from NEA and Northern Light in its second round of fundraising. The company has raised $11M in total after GSR and Mayfield pumped $2M into it last year. Baihe claims more than 5.5M registered users, hopes to create its niche by offering fee-based services.
China's online dating market is expected to reach 653M yuan (US$81M ) by 2008, with an annual growth rate of 60%, according to a recent iResearch report. While the growth rate is impressive, the starting point seems negligible to us.
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